Acting on behalf of a private syndicate of investors, Hanover Green have sold the investment in a 188 bedroom hotel over looking the Queen Elizabeth Olympic Park, Stratford, E1. The Hotel was built for the 2012 London Olympic games.
The 188 bedroom Hotel is let to Travelodge on a 25 year lease from 2012 at an annual rent of £963,500 pa. The investment was sold to a client of Aberdeen Asset Management for £18 million, showing a net initial yield of 5.0%.
The 11 story Hotel is a stone’s throw away from the Olympic Stadium and Olympic Village.